Middle Eastern investors snapped up most of Turkey’s $1.5 billion debut sukuk, the Treasury said, while Deputy Prime Minister Ali Babacan said the government hopes the deal will encourage other Turkish borrowers to sell Islamic bonds.
The 5-1/2 year bond attracted an order book of nearly five times the issue size, the Treasury said late on Tuesday, with Middle Eastern accounts taking 58 percent of the issue. European investors bought 13 percent and Asian accounts 12 per cent, while 9 percent was sold in Turkey and 8 percent to USinvestors...............................................Full Article: Source